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If you’re an avid Peloton user or considering making it part of your fitness routine — whether it be for cycling, running or another activity — you’ll soon get heightened rewards on your Peloton spending with select Chase cards.
Beginning Feb. 1, 2023, Chase Sapphire Preferred® Card and Chase Sapphire Reserve® cardholders will earn Chase Ultimate Rewards points on Peloton equipment and accessory purchases.
The new earning rate for Peloton varies depending on the card you have.
Chase Sapphire Reserve cardholders will now receive 10X total points on eligible Peloton Bike, Tread, Row, Guide and accessory purchases that total $250 or more. The maximum number of points you can earn is 50,000, and the offer is valid through March 31, 2025.
Chase Sapphire Preferred cardholders will receive 5X total points on those same purchases (totaling $250 or more), up to a maximum of 25,000 points earned. This offer is also valid through March 31, 2025.
It’s important to note that these boosted rewards will not apply to your Peloton membership.
To earn the 10X or 5X points, you must complete your purchase directly through Peloton between Feb. 1, 2023 and March 31, 2025.
Chase’s partnership with Peloton
Chase began partnering with Peloton in October 2020. Previously, Sapphire Reserve cardholders could receive up to $120 in statement credits toward Peloton membership and 10X points on Bikes and Treads, while Preferred cardholders could receive up to $60 in credits and 5X points on eligible purchases (these offers are no longer valid).
The new offer does lack some benefits the partnership offered previously, including statement credit opportunities. It also puts a cap on rewards potential and requires a minimum level of spending. However, you can still rack up a significant points balance if you’re looking to add new Peloton equipment to your home gym.
Chase also notes that future details on “exclusive in-studio opportunities for cardmembers” are coming — so be on the lookout for additional ways to enjoy Peloton with your Sapphire card.